Smart Diaper Market Scope
The global smart diapers market is expected to register a CAGR of 19.3 % over the forecast period to reach USD 1,544 Million by 2030.
Smart diapers are hygiene products which send out alerts to caregivers when the diaper is wet. It can be used in monitoring medical conditions in older adults. Prevalence of urinary tract incontinence (UI), overactive bladder, and other infectious diseases are expected to support its demand. The global smart diapers market report by Market Research Future (MRFR) takes a closer look at the industry and provides valuable insights on the happenings and future trends for the period of 2019 to 2025 (forecast period). The COVID-19 pandemic and its effect on production has been written and discussed extensively.
The large geriatric patient pool and their susceptibility to chronic diseases can drive the need for smart diapers during the forecast period. Emergence of home care amid the soaring costs of healthcare can influence the market significantly. High prevalence of UI and overactive bladder in patients above the age of 65 can fuel the procurement of smart diapers. Assisted living facilities and retirement communities can monitor their patients and provide efficient care.
The COVID-19 pandemic is expected to be a windfall for the global smart diapers market. Smart diapers will be bought in huge droves by new parents and caregivers of the elderly. The use of mobile platforms for monitoring the diapers can create new strides in baby care. According to the Massachusetts Institute of Technology (MIT), researchers have developed a new disposable smart diaper embedded with a RFID tag which can send notifications or alerts to caregivers.
But the affordability of smart diapers can restrain market growth.
Competitive Intelligence
Procter & Gamble Company, Pixie Scientific, LLC, Kimberly-Clark Corporation, and Abena A/S are the global smart diapers key market players.
Segmental Analysis
The segment study of the global smart diapers market overview is based on distribution channel, and end user.
The end-user-based segments of the global market for smart diapers are babies and adults. The adult segment is expected to register a 20.17% CAGR in the forecast tenure, as smart diapers are mainly used by adults in nursing homes and hospitals, as well as in facilities for mentally or physically challenged people.
The distribution channel-based segments of the global smart diapers market are non-store-based and store-based. The store-based segment is expected to hold a decent share of the overall market by 2025. The rise in consumer preference for purchasing online and the introduction of disruptive technological advancements in the e-commerce sector are expected to fuel the rise of the non-store-based segment in the years to come. MRFR data suggests that the global smart diaper segment is projected to expand at a higher CAGR during the review tenure.
Regional Overview
North America dominated the smart diapers market in 2018 and is predicted to grow at the fastest rate during the forecast period, owing to growing consumer demand for technologically sophisticated products. The United States provides attractive markets for regional producers. During the assessment period, the market is likely to be driven by the growing acceptance of IoT and the presence of significant manufacturers in the region.
During the evaluation period, Europe's market held the second-largest share. In nursing homes and incontinence treatment clinics, the usage of smart diapers helps to reduce the amount of resources necessary. Adult diaper demand is predicted to increase dramatically in the region because of the constantly expanding senior population, increased awareness of urinary incontinence, and increased health consciousness. Additionally, smart diaper makers are partnering with technology suppliers to develop and supply cost-effective and advanced goods in order to maintain a strong position in the cutting-edge competitive landscape.
Asia Pacific is predicted to be the fastest-growing region over the study period. China, India, Japan, and South Korea are major contributors to the region's increasing demand for Smart diapers. Innovation, price deflation, population expansion, and rising family incomes, particularly in emerging Asian countries, have resulted in a high demand for smart diapers, consequently adding to the region's rise in the smart diapers market size.
Industry News
The presence of major manufacturers such as Kimberly-Clark Corporation and Procter & Gamble Company and the growing adoption of smart diapers for adults can propel the regional market growth during the foreseeable future. Moreover, the companies are launching new products to stay ahead in the competitive market. For instance, in July 2019, Procter & Gamble Company (P&G) in collaboration with Google developed and launched a smart diaper under the brand name “Lumi”.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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